Semiconductor tariff on Chinese electronics; US market volatile

Yesterday, U.S. President Trump's representatives indicated that Chinese-made smartphones and other electronics would face a 'semiconductor tariff' rather than being fully exempt from tariffs imposed by the US.

Financial analysts are focusing on the bond market, which has seen rising yields due to selling pressure, prompting Trump to announce a 90-day tariff pause that temporarily calmed the market but failed to sustain it; as of this morning, the DOW is up 200 points early but down around 50 points with a couple of hours left before market close.

Gold prices continue to rise, currently at $3,212 per ounce, with Goldman Sachs predicting an end-of-year price of $3,700 per ounce and revising its FY26 forecast to as high as $4,000/ounce based on continued uncertainty about Trump's trade war strategy.

Bitcoin has performed relatively well compared to other cryptocurrencies during the crisis, but its value relative to gold has been declining over recent years; crypto prices have been volatile amid concerns expressed by Ray Dalio.

U.S. markets are up today, largely due to Trump's decision to exclude certain goods from blanket tariffs on China, benefiting companies like Apple and NVIDIA.